Good day forex traders.
Did your Koala System performed well last week? Hope it did.
In the last review, we saw the EUR/USD giving us bearish moves due to the escalating concerns over the Greece deficit crisis and it’s implications on Europe. The system identified No Trading Zones correctly especially on Monday being a bank holiday for a number of countries. The Koala System identified 3 standard opportunities.
The bullish relief at the start of the trading week gave us an opportunity to harvest 50 pips. After which, the EUR/USD reached a tipping point and was overcome by bearish sentiments. Late in the same day, we were presented with another standard opportunity to enter a trade. This was probably a trade of patience as the price action slowly slipped lower.
Just before the midweek, we had another opportunity as part of the bearish moves. Nowadays individual moves are rather tight. Therefore i am looking into smaller take profit values like 30. pips. The currency pair went into no trading zone next and the last opportunity came at the end of the week before the drop to test 1.2330+/-.
The Koala System gave us 4 standard opportunities this week as a result of a rather trending EUR/USD. As the currency pair moves into record lows, we may see spikes and wild ranging action. Make use of the 200EMA as we can see it’s usefulness above. Do plan your trades carefully.
Trade Safely. Read the latest EUR/USD Weekly Review for a heads up.